California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $494.66 billion as of March 27, 2024. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. At CalPERS, we’re committed to people – the people we serve, our team members, and the larger community around us. CalPERS is situated near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and we offer competitive benefit packages, compensation, and opportunities for advancement. Our people are deeply committed to our Mission & Vision and their decisions and actions are guided by our Investment Beliefs.

Our Total Fund Portfolio Management (TFPM) group is currently seeking an Investment Officer III to manage the Total Fund asset allocation monitoring function and drive our CalPERS mission.

Duties include but are not limited to:

• Manage the day-to-day Total Fund portfolio allocation process to ensure exposures are aligned with all desired targets
• Monitor daily cash flow forecasts and manage interfacing and coordination with internal and external asset class and program managers to ensure implementation of any required exposure changes are completed in a timely, risk controlled, and cost-effective manner
• Research and stay apprised of new developments in the capital markets and global economic environment and provide qualitative impact assessments relative to the fund
• Assist in the active risk budgeting and active risk oversight processes for the Total Fund including monitoring of risk taking versus expectations both at aggregate level and strategy level
• Manage the Total Fund Terminated Agency Pool (TAP) monitoring and rebalancing process

Interview Dates: We anticipate interviews to be held one month from the final file date.

Telework Information: This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.

Job Type: Full-time

Pay: $10,068.00 - $12,007.00 per month

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Retirement plan
• Vision insurance

Work setting:

• Hybrid work

Ability to Relocate:

• Sacramento, CA 95811: Relocate before starting work (Required)

Work Location: Hybrid remote in Sacramento, CA 95811